WASHINGTON – Today technology trade group ITI, the global voice of the tech sector, released the following statement from President and CEO Dean Garfield regarding the first annual joint review of the EU-U.S. Privacy Shield Framework, led by the European Commission and U.S. Commerce Department.
“This week’s annual review provides a golden opportunity for the United States and European Union to reaffirm the Privacy Shield as a critical tool for companies of all sizes to reliably move data across the Atlantic, while maintaining citizens’ rights to strong privacy and data protection,” Garfield said. “We applaud both sides for prioritizing their support of the Privacy Shield during this foundational first year of its operation. We are confident the review will validate Privacy Shield as a win not only for the protection of EU and U.S. citizens’ privacy, but also for innovation, job creation, and economic growth.”
The July 2016 establishment of the EU-U.S. Privacy Shield, a mechanism allowing companies to comply with data protection requirements when transferring personal data from the European Union to the United States, provided welcome relief from the uncertainty surrounding transatlantic trade following the invalidation of the Safe Harbor agreement.
One of Privacy Shield’s innovations was the annual review process. The key purposes of the review are to ensure the proper functioning of the agreement and address concerns that may arise in light of legal or other developments on either side. To date, over 2,500 companies have certified to the increased safeguards required under Privacy Shield, and are now relying on the Framework to transfer and safeguard personal data from the EU to the United States.